Beth Co. just went public at a total valuation of $750 million. Thomas Venture Partners (TVP) invested $50 million and received Participating Convertible Preferred stock with a 1x Liquidation Preference and no cap. TVP's fully diluted ownership stake is 47%. The investment agreement includes a standard Qualified Public Offering Provision with a minimum valuation threshold of $400 million. Which one of the following statements is true? OTVP can exercise its liquidation preference and will receive $379 million ($50 million liquidation preference plus 47% of $700 million). O TVP must convert its shares to common stock and will earn $352.5 million (47% of $750 million). O TVP can choose between exercising its Liquidation Preference or converting to common stock. O Beth Co. cannot force TVP to convert its shares into common stock O Qualified Public Offering Provisions are illegal so TVP can do as it pleases